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Voyager Capital suspends trading, deposits and withdrawals temporarily
By Yashasvini Razdan - Jul 01, 2022, 11:21 PM ET
Last Updated - Jun 07, 2024, 06:59 AM EDT
Crypto broker Voyager Digital (NYSE: VYGVF) announced that it would temporarily suspend all trading, deposits, withdrawals and loyalty rewards, effective as of 2 PM ET
• Shares of Voyager plunged more than 26% to $0.33 in US trading
Crypto broker Voyager Digital (NYSE: VYGVF) announced that it would temporarily suspend all trading, deposits, withdrawals and loyalty rewards, effective as of 2 PM ET.
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The company said that the Voyager-issued debit card would stop working for owners, according to a statement released Friday afternoon.
“This was a tremendously difficult decision, but we believe it is the right one given current market conditions,” said Stephen Ehrlich, CEO of lending company Voyager.
“This decision gives us additional time to continue exploring strategic alternatives with various interested parties while preserving the value of the Voyager platform we have built together. We will provide additional information at the appropriate time,” he added.
The news comes a few days after one of Voyager’s customers failed to make payments on a loan worth hundreds of millions of dollars. Voyager’s competitor BlockFi, has also been caught in the crosshairs of the sector’s recent liquidity crunch.
Shares of Voyager plunged more than 26% to $0.33 in Friday’s US trading.
Source - Voyager Capital
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